>> Commercial coal mining, or opening up coal mining for the private players, and allowing 100% Foreign Direct Investment (FDI) for the commercial coal mining are expected to attract global miners to invest in India, according to a think-tank.
Participation of private players in coal mining in the country will help in increasing the domestic coal production, to result in reduction of import dependence for Non Coking coal. At the same time, allowance of 100% FDI is likely to attract global miners, who are expected to bring in the latest technology, which will help in achieving higher efficiency, according to the think-tank.
>>Rio Tinto, a global mining major, is in the advanced stages of selling of its Hail Creek and Kestrel coal mines, situated in Australia.
Hail Creek coal mine, located at Mackay in Central Queensland, produces both Coking and Non Coking coal. And Kestrel coal mine, situated at Emerald in Central Queensland, also produces both the types of coal.
The sale of the coal mines is part of the company’s strategic decision to exit the coal business and focus on the growth of its Iron Ore, Copper and Aluminum divisions. The two coal mines are the last ones remaining with the company after the sale of its Hunter Valley coal mines in Australia to Yancoal last year.
Soon, at least three bidders are expected to submit final offers to Rio Tinto for purchasing the coal mines that could bring in at least USD 2.5 billion to the company.
>> Met Coke exports from China in Feb’18 were around 0.046 MnT lower than the exports in Jan’18. In Feb’18, China had exported around 0.646 MnT of Met Coke, which was also lower by around 0.163 MnT against the exports in the same month of 2017.
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